EURUSD - Short

Aiming for the gap to be closed

Comment:

Stubbornly, it refused to go down and continue its way up. If one extend the two black lines (upper and lower channel), you would notice that the price action has breakout from the upper channel which is a confirmation to buy. Wait for the pull back, see price action on lower time frame , maybe a good opportunity to buy in the short run.

We are staying on the sideline to monitor before taking our next action.

Trade active:

Nice pin bar, bearish sign, we short at 1.18011, SL at 1.18079. Please note that price action is above 21ema which means it is still bullish, thus we are taking a small position for this counter-trend approach.